Many owners of growing privately held firms make operational and financial decisions in an effort to maximize the expected present value of the proceeds from an initial public offering (IPO). We ask: ÜWhat is the right time to make an IPO?Ý and ÜHow should operational and financial decisions...

Many owners of growing privately-held firms make operational and financial decisions in an effort to maximize the expected present value of the proceeds from an Initial Public Offering (IPO). We ask: What is the right time to make an IPO and How should operational and financial decisions be...

We study lot-size policies in a serial, multi-stage, manufacturing/inventory system with two key generalizations, namely (1) random yields at each production stage and (2) an autoregressive demand process. Previous research shows that the optimal policies in models with random yields (even in...

We show that an easily computed and simply structured policy for making workorder decisions is optimal in the Clark-Scarf inventory model. That is a model of a make-to-stock multistage serial manufacturing process with convex costs of finished goods inventory, a set-up cost for purchasing,...